Homebuyers are attracted to new build properties because they are ready to move into, require very little work to maintain in the short term, appear to be highly specified and, can be cheaper than older, local housing.
However, new build homes have acquired a poor reputation for quality – cracking mortar, shoddy brickwork, faulty drainage, second-rate fittings, sub-standard finishing as well as poor street layouts and lighting among the many complaints regularly made.
Many purchasers realise that their property was not built to last and, rather than accruing value, will lose value and be difficult to sell in the long term. This has tarnished the reputation of many developers.
Developers are also charged with cramming smaller homes onto a site in what they perceive as a way of extracting the maximum profit from a project. In their defence, they state that the price of land, rising production expenses and increasing material costs preclude investment in build quality, architectural design and planning.
We would argue that quality design sells!
Only by investing in better design can developers really maximise the value of development in a way that enhances and builds their reputation. This is supported by data from London estate agency ‘The Modern House’ which shows well-designed homes average a 12% premium in value over other properties in an area.
Poorly designed homes and housing schemes can be considerably more costly to a developer in the long run, both in terms of the cost of ‘making good’ post-construction and in potential legal claims.
Architectural design and quality space in a home really matters
What happens if we think outside the box a little and design homes that fit the local environment and provide higher quality living spaces?
At M P Architects we understand that property developers want to maximise the profit on their projects. However, filling a plot with small homes is not the only way to capitalise on its potential.
We understand value creation and believe ‘real value’ to a developer can be created in many ways. While how a property looks, its ‘kerb appeal’, is one key value driver, equally important is how a property ’feels’. Interior specification, for example, is about more than just selecting expensive materials – considered layouts to meet patterns of habitation, highly functional fittings and modern, easy to maintain finishes all need to come together to create spaces that people really want to live in.
Our ‘holistic’ approach
At M P Architects we have built our reputation on the integrity of our designs, delivery of projects and our attention to detail.
We utilise our extensive design, planning and negotiation expertise to:
- Create environments that facilitate and support contemporary life
- Contribute to efficient and effective planning
- Reduce the running and life cycle costs of new homes
- Specify efficient materials and construction processes
- Ensure that the maximum value is generated from every project
We pride ourselves on our ability to intelligently configure housing within a given site to create exemplary living spaces while also satisfying the financial restrictions and expected returns of developers.
And importantly, our local knowledge of the area and of its specific planning processes allows us to achieve a high level of submission success.
Take a look at 5 of our small development case studies that showcase how our design, technical and planning expertise has added value:
M P Architects LLP are a RIBA and ARB registered friendly team of 8 architectural staff who provide added value through affordable high-quality design thinking, technical knowledge, and planning expertise. Why not give us a call to discuss your next development and see how we can help you to truly maximise your next opportunity.